Loans For People in Foreclosure. In a slow economy many people find themselves falling behind on their mortgage payments. Once a person gets behind on one or two mortgage payments, it becomes almost impossible to catch up.

The most common steps that most people consider looking into is to find ways to get a loan to catch up the mortgage payments. This is not a simple process. One of the main factors is how long have you been behind on your mortgage. if you're only one month behind, you could probably get a loan from your local bank or credit union because your bank has no way of knowing that your are behind on your mortgage payments. You would have to be about 2 to 3 month behind on your mortgage payments before your lender will report you to the credit bureau.

If you're more than two to three months behind on your mortgage loan, you may need to contact companies that handle bad credit loan programs. Many times they maybe willing to give you a loan, even if you have less than perfect credit. Most of these types of companies are mainly located on the Internet. They offer no credit or bad credit loans to anyone that has a stable income.

You have two different options. you can go with a unsecured personal loan program that would require credit checks or you could go with a payday loan program. Unsecured personal loan programs will allow you to get loans of up to $50,000.00 with no collateral required. This is normally the best option because it offers lower monthly payments on an extended period of time to pay the loan back. Whereas payday loans are considered to be a short term loan. Payday loan companies generally offer loans up to $1,500 and they will only accept weekly payments to get there money back. The good thing about payday loan programs is that the lender doesn't check your credit to get you approve.

There are many loan programs online that can help you get back on track.